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Economy Middle East Summit
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Saudi Arabia
Economy
IMF revises Saudi Arabia’s economic growth forecast: 2.7 percent in 2024, 5.5 percent in 2025
Kingdom's economy achieved a growth rate of 8.7 percent in 2022
Real Estate
Off-plan residential offerings can help bridge the gap of 1.5 million housing units in Saudi Arabia: PwC
Building greater buyer trust, educating developers key to scale up demand
Markets
Saudi Arabia’s sukuk, bond issuances reach $202 bn in Q4 2023
Kingdom attracts Saudi investors, advances capital market, and maintains fiscal stability
Health
Saudi Arabia boosts local drug production with 4 key agreements
Agreements mark significant step towards health and pharmaceutical security
Saudi Arabia
Riyadh to host Global Smart City Forum: Shaping the future of urban development
From February 12-13
Energy
Saudi Arabia’s Aramco to stick with 12 million barrels per day production capacity
Upon receiving a directive from the ministry of energy
Saudi Arabia
Red Sea Global pioneers sustainable transportation with low-carbon SAF policy
Company's entire fleet of onshore vehicles now run on electricity or SAF
Saudi Arabia
Saudi Arabia bids to host World Water Forum in 2027
Underscoring Kingdom’s interest in sustaining water resources, improving the quality of life
Logistics
SAR launches Dream of the Desert train service in Saudi Arabia, first in MENA
$53 million deal with Italian Arsenale Group to introduce luxury train ride
Saudi Arabia
Saudi Arabia’s National Biotechnology Strategy launched with a projected cumulative GDP impact of $34.66 bn
Strategy seeks to localize vaccine manufacturing, protect the environment
Real Estate
NHC launches Eyal Sadayem community project in Jeddah
The new project includes 390 villas and townhouses
Banking & Finance
Saudi company bolsters AI presence with $5 million investment in OpenAI
Through a private stock sale round of OpenAI employee shares tender offer
Economy
Saudi Arabia tops GCC ranking in Statistical Performance Index: World Bank
Jumping 25 places
Real Estate
Saudi nationals employed in real estate surge 116 percent
Saudi citizens working in the private sector reached 2.3 million in 2023
Logistics
Saudia’s operational performance grows 21 percent in 2023
National flag carrier achieves significant growth through strategic enhancements and international expansion
Real Estate
Saudi Arabia’s NHC launches Rakaez program, promotes local content
The initiative has four developmental goals
Hospitality & Tourism
Saudi Arabia aims for 150 million visitors by 2030, eyes $200 billion boost to economy
Tourism sector's contribution to the GDP increased by 4.5 percent year-on-year
Energy
Crude exports surge in Saudi Arabia, reaching five-month high
Saudi refinery output declined by 0.47 percent, reached 2.11 million bpd
Markets
Saudi Arabia’s PIF bonds received $20 billion in subscriptions
Bond issuances in emerging markets gain new momentum
Saudi Arabia
Aramco forms $3.3 billion joint alliance for LNG project in Saudi Arabia
Al-Riyas project expected to boost Saudi economy and job creation
Logistics
SAR achieves 55% growth rate in passenger numbers in 2023
Number of passengers on Saudi Railways trains exceeded 11.2 million last year
Economy
Saudization of engineering professions: 25 percent implementation effective from July 21, 2024
Applies to all private sector establishments employing five or more engineers
Economy
Davos 2024: Saudi Arabia concludes WEF participation with landmark agreements and announcements
April 2024 meet to focus on cooperation, growth, and energy
Hospitality & Tourism
Saudi Arabia’s tourism soars: UNWTO reports 156 percent recovery in tourist arrivals during 2023
Only Middle East region surpassed 2019 tourism levels with impressive growth
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